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@Dammit
Yasi- that's true if the other people are waiting until the last second, but if they've put their highest bid in then eBay will automatically raise the bidding to that price.
i.e. the auction is at £5, with 3 seconds to go.
You have used a sniper program to bid £10 at the very last moment, but someone else has bid £1,000.
You sniper program will fire, and at once be outbid by the person who has put the highest bid in.